SOLD: POPULAR RESTAURANT/BAR IN PRIME CITY CENTRE TRADING POSITION
URBAN BURGER, QUEEN STREET, EXETER, DEVON
Stonesmith are delighted to have sold the leasehold of Urban Burger – a popular restaurant/bar in a prime location in the heart of Exeter City Centre. The property comprises of the four lower floors of a six-storey end of terrace, Grade 2 Listed, character property which was converted to a restaurant in the late 1980s. It underwent a complete refurbishment in 2005 to an extremely high standard throughout.
The premises are situated in a prime trading location, fronting Queen Street, close to the High Street and main shopping areas, and opposite Central Station. The immediate area is a busy mixed use location close to Exeter College and various high density residential developments and is therefore well placed to benefit from the considerable commercial advantages of this much sought after trading position. The business benefits greatly from both students and workers at Exeter University during term times.
The sale of Urban Burger presented an excellent opportunity to purchase a thriving and well regarded city centre restaurant and bar, the like of which is seldom available in the open market. With tremendous potential to increase the current trade levels, particularly for hands on owner operators, there is also the potential for incoming operators to develop their own trading style, in a manner to suit their own personal requirements and take advantage of the sought after location and the high specification fit-out that the premises have enjoyed.
Mike Phillips, Director of Exeter selling agents Stonesmith commented: “Appetite for restaurants and cafes in the Exeter area shows no sign of slowing, and we wish the new owners all the best with their exciting new venture.”
The leasehold business was sold off an asking price of £99,950.
Stonesmith are one of the leading business transfer agents in the South West specialising in the sale of licensed businesses throughout the Westcountry including Devon, Cornwall, Somerset and Dorset.
Full details of all our current properties can be downloaded from our website www.stonesmith.co.uk or follow us on Twitter @stonesmithUK. If you’re thinking of selling or need professional advice, Stonesmith can be contacted on 01392 201262.